Investor Relations

These are loans granted by a pool of international financial institutions for initial amounts of
approximately 90% of the cost of the ISAB Energy plant,whose balance at 31 December 2012
amounted to EUR 36 million.
The repayment plan for these loans, which are secured by special liens and a mortgage on
the plant, entails 29 half-yearly instalments starting on 15 December 2000 (last instalment
due on 15 December 2014).
To hedge interest rate fluctuation risk, the Group stipulated an Interest Rate Swap agreement
until 15 December 2014 in line with the payment dates of the debt amortisation plan that
transforms the floating rate into a fixed rate of 1.79%; the residual face value as of 31 December 2012 was EUR 36.9 million.

 

These are loans granted for the construction of wind farms by the following companies:

- ERG Eolica S. Cireo S.r.l. with a balance of EUR 6 million as at 31 December 2012 (EUR
9million as at 31 December 2011).The loan, stipulated in 2005,has a base credit line of EUR
34million for an installed power of 30MW, increasable to EUR 43million for an additional
power of 10MW.The final payment is due on 31 December 2014.To hedge interest rate risk,
there are,until 31 December 2014, Interest Rate Swap agreements in linewith the payment
dates of the debt amortisation plan that transform the floating rate into a fixed rate of
3.30%.The residual face value as of 31 December 2012 was EUR 11 million;

- ERG Eolica Faeto S.r.l. with a balance of EUR 31 million as at 31 December 2012 (EUR 35
million as at 31 December 2011).The loan, stipulated in June 2007, has a base credit line
of EUR 38 million for an installed power of 24 MW. The final payment is due on
31 December 2021.To hedge interest rate risk, there are,until 31 December 2013, Interest
Rate Cap agreements which set a maximum limit of 5% to the floating interest rate. The
residual face value as of 31 December 2012 was EUR 16.6 million;

- Green Vicari S.r.l.with a balance of EUR 35million as at 31 December 2012 (EUR 42million
as at 31 December 2011).The loan has a base credit line of EUR 53 million for an installed
power of 37.5 MW. The final payment is due on 30 June 2019. To hedge interest rate risk,
there are,until 31 December 2016, Interest Rate Swap agreements in linewith the payment
dates of the debt amortisation plan that transform the floating rate into a fixed rate of
2.235%.The residual face value as of 31 December 2012 was EUR 28 million.
The covenant on the Project Financing of the Vicari wind farmhad not been fulfilled as at
31 December 2011 and as at 30 June 2012, both remedied with waivers agreed with the
Banks;
The five French“Parc Eolien”companies headed by ERG Eolienne Francewhose balance as at 31 December 2012 amounted to EUR 30 million (EUR 35 million as at 31 December
2011).The Project Financing,withmaturity of December 2019,pertains to five wind farms
in France.The agreement prescribes a base credit line of EUR 56million for a total installed
power of 55.2MW.The final payment is due on 31 December 2019.To hedge interest rate
risk, the five French companies have stipulated nine Interest Rate Swap agreements until
31 December 2019 in line with the payment dates of the debt amortisation plan that
transform the floating rate into an average fixed rate of 4.27%.The residual face value as
of 31 December 2012 was EUR 33.6 million;

- Eoliennes du Vent Solaire S.a.s.,whose balance as at 31 December 2012 amounts to EUR
7million (EUR 8million as at 31 December 2011).Thematurity of this Project Financing is
31 December 2025 and it pertains to the Plogastel-Saint-Germain wind farm. The
agreement provides for a base credit line amounting to EUR 8 million for total installed
capacity of 9.2 MW;

- ERG Eolica Ginestra S.r.l., with a balance of EUR 38 million as at 31 December 2012 (EUR
41 million as at 31 December 2011).The loan was issued for EUR 42 million with the final
payment in June 2025.To hedge interest rate risk, ERG Eolica Ginestra stipulated Interest
Rate Swaps until 30 June 2025, in line with the payment dates of the debt amortisation
plan,which transformthe floating rate into a fixed rate of 3.27%.The residual face value as
of 31 December 2012 was EUR 36 million;

- ERG Eolica Adriatica S.r.l.,with a balance of EUR 162 million as at 31 December 2012 (EUR 171 million as at 31 December 2011). The loan provides for a base credit line of EUR
172 million and a VAT line of EUR 20 million for installed capacity of 102 MW and the last
payment date in June 2022. To hedge interest rate risk, there are Interest Rate Swap
contracts until 30 June 2022 in line with the payment dates of the debt amortisation plan,
which transform the floating rate into an average fixed rate of 4.84%. The residual face
value as of 31 December 2012 was EUR 173 million;
- ERG Eolica Campania S.p.A.,with a balance of EUR 91million as at 31 December 2012 (EUR 102million as at 31 December 2011).The loan provides for a preferential credit line of EUR 59million,a Bank credit line of EUR 59million and a supplementary line of EUR 4.7million for installed capacity of 112MWand the last payment in December 2020.To hedge interest rate risk, there are Interest Rate Swap contracts until 30 June 2020 in linewith the payment dates of the debt amortisation plan,which transformthe floating rate into an average fixed rate of 4.37%.The residual face value as of 31 December 2012 was EUR 24 million;
- ERG Eolica Fossa del Lupo S.r.l. whose balance as at 31 December 2012was EUR 120million.
The loan was issued for EUR 126 million with the final payment in December 2025. To
hedge interest rate risk, ERG Eolica Fossa del Lupo stipulated Interest Rate Swaps until
31 December 2025, in line with the payment dates of the debt amortisation plan,which
transform the floating rate into a fixed rate of 2.26%. The residual face value as of
31 December 2012 was EUR 94.4 million.

Lastly,with reference to the ERG Eolica S.Vincenzo S.r.l. loan, the company decided to use
cash available at 31 December 2012 to extinguish the residual debt, optimising financial
expenses and project financing management expenses.The loan, stipulated in 2005, had
a baseline amount of EUR 36 million. According to the amortisation plan, the payment
date for the last instalment was 31 December 2013.

It is a Project Financing loan granted by a pool of primary Italian and international financial
institutions for an amount of EUR 330 million to finance the new gas-fuelled CCGT cogeneration electric plant, located in the industrial area of Priolo (SR).The balance outstanding as of 31 December 2012 was EUR 232 million.
The loan, secured with collateral whose duration is linked to the reimbursement of the loan,
has an amortisation plan comprising 24 half-yearly instalments starting fromthe first half of
2010 and ending in the second half of 2021.
To hedge interest rate risk, there are,until 31 December 2021, Interest Rate Swap agreements in line with the payment dates of the debt amortisation plan that transformthe floating rate into a fixed rate of 2.77%. The residual face value as of 31 December 2012 was EUR 217 million.